As the world of finance and technology continue to merge, keeping up with the latest fintech news is essential for anyone looking to stay ahead of the curve. Here are 10 must-read fintech news stories from the week of May 6, 2023.
1. PayPal Acquires Crypto Custodian Curv
PayPal has announced its acquisition of Curv, a cryptocurrency custody firm. This move is seen as a significant step towards PayPal’s goal of offering its customers access to cryptocurrencies.
2. Robinhood Launches Crypto Wallet
Robinhood, the popular trading app, has launched a cryptocurrency wallet that allows users to store and transfer their digital assets. This move is expected to increase Robinhood’s appeal to crypto investors.
3. Visa Partners with Crypto Startup BlockFi
Visa has announced a partnership with BlockFi, a crypto lending and borrowing platform. This partnership will allow Visa cardholders to earn Bitcoin rewards on their purchases.
4. Square Reports Strong Q1 Earnings
Square, the payment processing company founded by Jack Dorsey, has reported strong Q1 earnings. The company’s revenue was up 266% year-over-year, driven by growth in its Cash App and Seller ecosystems.
5. Mastercard Launches Carbon Calculator
Mastercard has launched a carbon calculator that allows businesses to measure the carbon footprint of their operations. This move is part of Mastercard’s commitment to achieving net-zero emissions by 2050.
6. Stripe Raises $600 Million in Funding
Stripe, the payment processing company valued at $95 billion, has raised $600 million in funding. This brings the company’s total valuation to $95 billion and makes it one of the most valuable fintech companies in the world.
7. Goldman Sachs Launches Digital Wealth Management Platform
Goldman Sachs has launched Marcus Invest, a digital wealth management platform that offers personalized investment portfolios to its customers. This move is part of Goldman Sachs’ efforts to expand its digital offerings.
8. JPMorgan Launches Digital Bank in the UK
JPMorgan has launched a digital bank in the UK called Chase. The bank offers a range of digital banking services, including a mobile app and contactless debit card.
9. Coinbase Goes Public
Coinbase, the largest cryptocurrency exchange in the US, has gone public. The company’s IPO was one of the most highly anticipated in recent years and is seen as a significant milestone for the crypto industry.
10. Amazon Launches Digital Currency
Amazon has announced the launch of Amazon Coin, a digital currency that can be used to purchase goods and services on the Amazon platform. This move is expected to increase Amazon’s dominance in the e-commerce space.
In conclusion, these 10 fintech news stories from the week of May 6, 2023, highlight the continued growth and innovation in the world of finance and technology. From the acquisition of crypto custodians to the launch of digital banks and currencies, these developments are shaping the future of finance and will have a significant impact on businesses and consumers alike.
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